- my iParenting
- quick clicks
- dads today articles
- dads today q&a
- message boards
- research baby names
- prepare a birth plan
- content channels
- ip channel rss feeds
- read birth stories
- read parenting stories
- recommended books
- e-newsletters
- safety recalls
- ip diaries
- ip store
- mom of the month
- dad of the month
- editor's letter
- letters to the editor
 |
- e-newsletters
- Sign up to receive our free weekly e-newsletters
- award-winning products
The iParenting Media Awards program helps parents find the best products for their families.
A Tangled Financial Web
Making Sense out of Online Money-management Tools
By Jenn Director Knudsen
Talley says she manages her money online for "the convenience factor." "I can get in, do what I have to do and get out all within a couple of minutes," she says. "I actually don't think that I have any drawbacks. As a matter of fact, I can't imagine doing it any other way."
But others are concerned enough to do their homework about a given site before unloading their private account information into it.
Connor is a self-described "Quicken junkie" and frequent user of online money-management tools. He loves the ease of using online applications that allow him to view his pertinent information – medical insurance, investments, checking account, 401Ks – all at one click.
He uses MSN.com's money-management applications, but you better believe he researched the company's record before signing on. He says he's probably one of the few who actually prints out and reads every word of companies' security agreements. He does this not only to ensure his information remains private but also to avoid receiving spam from third-party marketing firms. If, during his research, he finds a company's database has been penetrated just once, he looks elsewhere to do business.
Millions of people are taking advantage of online money-management tools, but there is still a chunk out there who either find the Web too daunting or too mysterious to use to their financial advantage.
People like Connor and Taschetta say parents should give online money management a shot.
Connor, who has bookmarked 50 finance-oriented sites, says he's researching a new life insurance policy for himself. Without the ease of the Internet (and he prefers Quotesmith.com for this and similar searches), he probably would have abandoned the search for the best plan for his family long ago.
Taschetta reminds busy parents that setting up, for instance, a personal budget-tracking tool takes very little time, and the rest of the work is done for them. To get started, he advises parents to first browse their banks' and other financial institutions' Web sites to become familiar with their offerings and look and feel, and then log on.
